Jerry Dorsch at Graphite Guitar Systems is building me my very first custom bass and I am having a blast with this. His brother Todd GTS, a member here, turned me on to Jerry who is a cofounder of Modulus for the first 10 years of its inception.
Here's a pic of the body style I wanted:

Here are beginning to present progress pics(not sure why some of the pics are cut-off?):

None of the pics are cut off for me, you just have to make the window wider. Really wide in some cases, like spread over the two monitors I have here at work. It also helps to use the direct link to this thread so the frame on the left isn't there.

Hi Beaner,
Your bass is looking great! I know it will be awesome. I would also like to know what pick-ups and electronics your going with. My experience is the pick-ups and electronics are a huge part in the tone you will get. Remember my first GGS 5 string started with Bartolini's with active electronics. It was very much like a Modulus. I however much prefer a more organic older scholl tone and switched it out to Nordstrand Big Singles and passive VVT which I love. I was getting single coil hum where the wiring was old or too much neon.

My newest GGS 5 string getting Nordstrand Big Splits and passive VVT are perfect for me. I can cover a wide variety of tones from P Bass to Jazz Bass and many of the familiar Phill tones early to more recent. Not exactly Phil's tones but remarkably close. It also depends on which strings you choose. I'm loving Ken Smith Slick Rounds and D Addario Chromes flat wounds.

The Body is indeed swamp ash which Jerry reassured me was an excellent wood for the bass. I honestly thought you could make a guitar out of Oak(true statement!). The decision for swamp ash also came from financial reasons as well.
Electronics are simple which is me to a T. 2 volume and one tone with passive Nordstrand big splits(again under the advice of Jerry and Todd). I believe the bridge is ABS.
I know I'm a sheep among tech wolves here but I am learning and you guys don't bite(much).
When shopping around at the usual Wal-Marts of guitar stores(which I still frequent by the way) it occurred to me for a little bit more money and lots of patience(Great advice from prof.RB!) I could have a bass that is unique and what I want.
Sometimes it feels like Jerry is one of those criminal sketch artists trying to sketch out a face from my fuzzy memory, he's awesome.

This is the finish I would like to have(no pick guard though, thank you Tim!). It's an Elvis Costello Fender Jazz finish that Jerry suggested.

I don't think the Jaguar/Jazzmaster (I get them mixed up) in the pic is swamp ash, it has a much prettier grain, and is a fantastic wood for basses, especially with graphite necks. Adds a little mid scoop and a lot of punch to the sound. 70's fenders were mostly ash and my most expensive bass by far has a swamp ash body. Excellent choice!

That's a relief! Thanks for the vote of confidence Rusty, you have earned quite a reputable opinion here with my total respect as well. You're right about the fender guitar in the picture, Jerry did say that the body was Adler(?) I believe.
Jerry's calling this the "Working man's bass" because of its simple looks and basic electronics. But it's going to play like the dickens!